Moving the chart ahead, we can see that now price broke an important support. I like to wait for a pullback before shorting, but like I said before, depending on my opinion, I'll take a 1% risk. The green boxes just show how I drew my support lines, looking back at previous lows where price could possibly bounce, and the frustrating part is we have no idea at what level this will happen at.
So anyway, moving right along... 1a2b3cppp, I'm not going to comment on your silly posts, and if you want to throw sh-t like a monkey, go back to your own thread, there are plenty fresh steaming piles of it there for you to play with.
Also keep the longer term trend in mind. As they say "Everything works until it doesn't", and the same is true for trend. At some point it's going to hit a longer term resistance, and even though the trend at that moment may be making hh's, buying there, when price is near a longer term resistance point is bad planning..again its why I duy dips and not highs.
C is a good example of all this, and one I hold from 3.97. Price broke previous high (blue line) on heavy volume. I took 1% risk at the highs, and will buy more later on. Stops at the lows near 3.09.
konviction, no one is throwing "sh-t." You're adopting a teaching frame as if you have advice to give. By your own admission, you are not a profitable trader. Feel free to share ideas as ideas, but not as concrete fact, especially when they don't work for you. And there are no steaming piles of anything in my thread (well for the most part, aside from a couple posters who think I'm serious about using fibs). There are only PnL statements.
No one says that. That sounds like the ambiguous feelgood statements that gurus say with a smile when you're losing your money with their system that doesn't work. I feel like you're so close to seeing the light about learning how to trade, otherwise I wouldn't even bother replying to your posts.
I'm also a little skeptical of Konvictions posts. This threads and your commentary is not indicative of someone that trades profitably. Rather it seems like a lesson on some basic trading principles that every trader, successful or not, knows. Now applying this concepts to your trading still does not make one sucessful.
LOL I'm adopting a teaching frame?...you really are a dumb ass. Open any trading book, or do a search and you'll see time and time again that Bull trends are DEFINED by HH's and HL's and vise-versa..thats fact, I'm not adopting anything. Secondly, where did I ever say I'm not a profitable trader? Either post a link with me saying those exact words, or shut-up and get your facts straight. I DID say I DONT trade full-time, thats NOT the same thing. And yes the advice I gave, I follow as well and it does work for me, but thanks for your concern.
True. What I'm trying to do is make the point on seperating the definition of price action from the rather more subjective analysis of price action by using trend lines, etc as there are no clear rules for using them. But yes, these are basic principles, but some people on here don't think so.